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Also in Mongolia, Peabody has completed that country’s first coal mine restoration project at the former Ereen Mine near the city of Bulgan in northern Mongolia.
The project restores a 16-hectare area to hardy pastureland with native forage species, and develops a new community well and a surface pond for livestock.
“We continue to extend our hand of friendship to help the Mongolian people unlock the energy and economic benefits of their vast coal reserves in a way that preserves their rich environmental and cultural heritage," Peabody chairman and chief executive officer Gregory H Boyce said.
Winsway is a supplier in China of imported coking coal and, in particular, the largest offtaker of Mongolian coking coal in 2009.
It distributes and transports coal from Mongolia and other countries into China through its integrated service platform which includes logistics parks, coal washing plants, and road and railway transportation capabilities along the coast, rivers and inland borders of China, including inner Mongolia.
Mongolia is strategically located to serve high-demand China and Asia markets, which are expected to represent about 90% of coal's demand growth in the next two decades.
Peabody has a representative office in Mongolian capital Ulaanbaatar and is working with the government to pursue development opportunities for the Tavan Tolgoi reserve.
Peabody-Winsway Resources holds coal and uranium licenses in Mongolia, and is conducting an active exploration program in the South Gobi region and throughout Mongolia, Peabody president and chief commercial officer Richard A Navarre said.
"We believe there are significant synergies combining Winsway's logistics capabilities as the leading Chinese importer of Mongolian coal with Peabody's leading global coal production and marketing position, creating an ideal platform to accelerate development of our Mongolian assets," he said.
"We look forward to working with Winsway to further expand Mongolian coal exports into the high-growth China market, while also pursuing other growth opportunities."
